1510 Hyman Ave · Kinston, NC 28501

$56,000

2 bd · 1.0 ba · 846 sqft · SingleFamily public records · 359 Days on market

Built 1946 6,970 sqft lot Est $64k · 13% under

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +29.1/30.0
• ARV discount +13.3/15.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

NEW ROOF on this charming 2-bedroom, 1-bathroom home ideally situated near UNC-Lenoir Hospital and convenient shopping destinations in Kinston, NC. This well-maintained property features beautiful hardwood flooring and offers a functional floor plan including a spacious living room, separate dining room, and kitchen. Comfort is ensured year-round with a central HVAC Gaspack system. The property has excellent curb appeal with full fencing encompassing both the front and back yards, providing security and privacy. Whether you're an investor looking for a rental property with strong income potential (current market rents exceeding $850 per month) or a homeowner seeking a comfortable residence,

Key facts

• Hardwood flooring
• Full fencing
• Curb appeal

Tags

• NEW ROOF
• HARDWOOD FLOORING
• CENTRAL HVAC GASPACK SYSTEM
• FULL FENCING
• CURB APPEAL

Property features AI

Exterior

• Parking: Off-street parking
• Security: Smoke detectors
• Utilities: Public water; Natural gas connected; Sewer available; Water available
• Home design: Single-family residence; One story
• Construction: Frame construction; Shingle roof; See remarks for additional construction details
• Exterior features: Front yard; Full chain-link fencing around front and back yard; Paved road frontage on city street and state road; No patio or porch

Interior

• Kitchen: Electric water heater
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Window coverings; Crawl space basement; 5 total rooms
• Laundry & utility: Hall laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $56k.

Deal economics

• At list price, monthly cash flow is $194 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($713 rent vs $56k).
• Recommended offer: $49k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 3.8% in Kinston — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 55/100 on livability (#640 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, housing B+; Watch: crime F, amenities F, commute F.
• Lenoir County Public Schools (rural): math 29% / reading 32% proficiency, ranked #147 of 178 in NC (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Rochelle Middle (math 9% / reading 20%, grade F, #462 of 475 statewide, top 98%, 466 students, 98% FRL); Kinston High (math 22% / reading 37%, grade F, #459 of 535 statewide, top 87%, 713 students, 100% FRL) — zoned schools average 99% FRL vs 65% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 95 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 148 units permitted in Lenoir County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $387 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Lenoir County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 359 days — a 12% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago; this cycle's ask has dropped $14k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $56k implies a 173% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $49,280 (12.0% below list)

Questions for the listing agent

1. It's been on market 359 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.27% ✓
• Cap rate: 10.45%
• Cash-on-cash: 14.83%
• DSCR: 1.66
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $64,296
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2105 Marsha Ave	0.35mi	2/1.0	775 (-8%)	1mo	$73,007	$94	69
817 Williams St	0.30mi	2/1.0	922 (+9%)	9mo	$66,500	$72	64
1408 N Independence Kinston St	0.23mi	2/1.0	725 (-14%)	6mo	$55,000	$76	61
500 Jackson Ln	0.17mi	3/1.0 (+1)	954 (+13%)	8mo	$142,000	$149	59
819 Dixon St	0.31mi	3/1.0 (+1)	925 (+9%)	18mo	$70,000	$76	50
502 Jackson Ln	0.17mi	3/1.0 (+1)	948 (+12%)	22mo	$58,000	$61	48
613 Larkspur Rd	0.72mi	3/1.0 (+1)	925 (+9%)	17mo	$82,500	$89	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.4%
• Equity multiple: 1.21×
• Total profit: $3,269
• Equity at exit: $8,350

10-year hold

• IRR: 14.8%
• Equity multiple: 2.20×
• Total profit: $18,739
• Equity at exit: $4,842

Cash invested: $15,680 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 85 Strongly Landlord-Friendly
• State North Carolina: 85 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

10-day notice; preempted; landlord-favorable but court speed varies.

Methodology + full state rankings →

ZIP-level market 28501

• Home prices YoY: -18.9%
• Active inventory: 95
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $713 medium
• Mortgage (P&I): −$294
• Tax from tax record: −$52 /mo · $628/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$150
• Net cashflow: $194

Break-even live

Break-even rent $468

Max offer price $56,000

Occupancy floor 68%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $14,000
• Closing costs: $1,680
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1313 McAdoo St Kinston, NC	1.0–3.0	1.0–2.0	644	$688	$1.07	13d	6	0.38mi
4015 N Herritage St Kinston, NC	1.0–3.0	1.0–2.0	964	$764	$0.79	13d	6	0.86mi
705 Harvey St Kinston, NC	2.0	1.0	896	$700	$0.78	21d	1	1.04mi
503 N Queen St Kinston, NC	1.0–2.0	2.0	759	$723	$0.95	13d	8	1.13mi

Listing history 36 events

1. 2026-06-19
   days on market $56,000 Active 359 DOM
2. 2026-06-18
   days on market $56,000 Active 358 DOM
3. 2026-06-17
   days on market $56,000 Active 357 DOM
4. 2026-06-16
   days on market $56,000 Active 356 DOM
5. 2026-06-15
   days on market $56,000 Active 355 DOM
6. 2026-06-14
   days on market $56,000 Active 353 DOM
7. 2026-06-12
   days on market $56,000 Active 352 DOM
8. 2026-06-09
   days on market $56,000 Active 349 DOM
9. 2026-06-08
   days on market $56,000 Active 348 DOM
10. 2026-06-07
    days on market $56,000 Active 347 DOM
11. 2026-06-07
    pricedays on market $56,000 Active 346 DOM
12. 2026-06-04
    days on market $57,000 Active 343 DOM
13. 2026-06-02
    days on market $57,000 Active 342 DOM
14. 2026-06-01
    days on market $57,000 Active 341 DOM
15. 2026-05-31
    days on market $57,000 Active 340 DOM
16. 2026-05-31
    days on market $57,000 Active 339 DOM
17. 2026-05-14
    price $57,000
18. 2026-04-10
    price $58,000
19. 2026-03-26
    status Active
20. 2026-03-26
    historical
21. 2026-02-21
    status Active
22. 2026-02-20
    historical
23. 2026-02-12
    status Active
24. 2026-02-12
    price $59,000
25. 2026-01-08
    price $60,000
26. 2025-10-22
    status Active
27. 2025-10-05
    status Pending
28. 2025-10-05
    historical
29. 2025-09-08
    price $64,000
30. 2025-06-06
    price $69,000
31. 2025-02-15
    listed $69,900 Active
32. 2025-02-08
    historical
33. 2024-10-02
    price $64,000
34. 2024-08-21
    price $69,000
35. 2024-07-22
    listed $75,000 Active
36. 2022-04-28
    soldstatus $20,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NC · Resets to sale price

• Current annual tax: $628 · $52/mo
• Projected year-2 tax: $628 · $52/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $8,554
• − Mortgage interest: −$3,137
• − Property taxes: −$628
• − Insurance: −$280
• − Repairs & maintenance: −$684
• − Management: −$684
• − Depreciation: −$1,629
• Taxable income: $1,511
• Est. tax owed @ 24.0%: −$363
• After-tax cash flow: $1,963/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Lenoir County Public Schools
• NCES district ID: 3702610
• Math proficiency: 29% ▲ 1.00%
• Reading proficiency: 32% ▼ -4.00%
• Median HH income: $34,958
• Composite: 25.17/100
• National rank: #7515
• State rank: #147 of 178 in NC

Livability — Kinston

• Score: 55/100
• State rank: #640
• US rank: #23267

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing B+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kinston, NC
• City population: 20,407
• Population (ZIP): 18,112

Population outlook (Lenoir County) Hauer SSP2

• Today (2025): 55,002 people
• By 2030: 53,048 · -3.6%
• By 2040: 49,041 · -10.8%
• By 2050: 45,136 · -17.9%
• By 2075: 36,547 · -33.6%
• By 2100: 27,731 · -49.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (62%)
• Race & ethnicity: Black 62% White 26% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Serbian 1% Italian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Lenoir

• 2024 margin: Lean R (+6.8) · D 46.2% · R 53.0%
• 2008→2024 swing: -6.7pp toward R · 2008: -0.1pp · 2024: -6.8pp
• All cycles: 2024: R+6.8 2020: R+3.5 2016: R+6.3 2012: R+1.5 2008: R+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.17%
• Current HPI: 193.3213
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.28%
• F500 in state: 26

Industry mix (Fortune 500 HQ in NC)

Industry	F500 HQs	Revenue
▸Financial Services	2	$213B
▸Retail	2	$95B
▸Industrial Conglomerate	1	$38B
▸Metals / Steel	1	$35B
▸Utilities	1	$30B
▸Industrial Machinery	1	$19B

Price history

+178.0% since first listed

20 events — show timeline

• 2026-05-14 Price Changed $57,000 Hive MLS
• 2026-04-10 Price Changed $58,000 Hive MLS
• 2026-03-26 Relisted — Hive MLS
• 2026-03-26 Listing Removed — Hive MLS
• 2026-02-21 Relisted — Hive MLS
• 2026-02-20 Listing Removed — Hive MLS
• 2026-02-12 Relisted — Hive MLS
• 2026-02-12 Price Changed $59,000 Hive MLS
• 2026-01-08 Price Changed $60,000 Hive MLS
• 2025-10-22 Relisted — Hive MLS
• 2025-10-05 Pending — Hive MLS
• 2025-10-05 Listing Removed — Hive MLS
• 2025-09-08 Price Changed $64,000 Hive MLS
• 2025-06-06 Price Changed $69,000 Hive MLS
• 2025-02-15 Listed $69,900 Hive MLS
• 2025-02-08 Listing Removed — Hive MLS
• 2024-10-02 Price Changed $64,000 Hive MLS
• 2024-08-21 Price Changed $69,000 Hive MLS
• 2024-07-22 Listed $75,000 Hive MLS
• 2022-04-28 Sold (Public Records) $20,500 Public Records

Property tax history

+7.4%/yr

Latest (2025): $628 · +214.9% YoY. Source: county tax records.